Newamsterdam Pharma Company N.v. Stock Forecast
Newamsterdam Pharma Company N.v. stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Newamsterdam Pharma Company N.v. stock price gained 0.749% on the last trading day (Tuesday, 25th Jun 2024), rising from $9.35 to $9.42. During the last trading day the stock fluctuated 7.07% from a day low at $9.20 to a day high of $9.85. The price has fallen in 6 of the last 10 days but is still up by 0.21% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 16 thousand shares were bought and sold for approximately $148.05 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -21.80% during the next 3 months and, with a 90% probability hold a price between $5.66 and $7.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NAMSW Signals & Forecast
The Newamsterdam Pharma Company N.v. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.31 and $9.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 27.30%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Newamsterdam Pharma Company N.v. stock
Newamsterdam Pharma Company N.v. finds support from accumulated volume at $9.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.650 between high and low, or 7.07%. For the last week the stock has had daily average volatility of 10.73%.
Our recommended stop-loss: $9.11 (-3.30%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (NAMSW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Newamsterdam Pharma Company N.v. to open at $9.49, and during the day (based on 14 day Average True Range), to move between $8.52 and $10.32, which gives a possible trading interval of +/-$0.90 (+/-9.53%) up or down from last closing price. If Newamsterdam Pharma Company N.v. takes out the full calculated possible swing range there will be an estimated 19.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.35 (0.74%) than the resistance at $10.00 (6.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Newamsterdam Pharma Company N.v. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.326 Buy Candidate Upgraded
Predicted Opening Price for Newamsterdam Pharma Company N.v. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $9.49 ( 0.743%) | $9.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAMSW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.14 | 7.64% |
| R2 | 9.89 | 5.01% |
| R1 | 9.74 | 3.38% |
| Price | 9.42 | |
| S1 | 9.24 | -1.89% |
| S2 | 9.09 | -3.52% |
| S3 | 8.84 | -6.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.52 | 22.29% |
| R2 | 11.04 | 17.20% |
| R1 | 10.00 | 6.16% |
| Price | 9.42 | |
| S1 | 9.35 | -0.743% |
| S2 | 9.13 | -3.08% |
| S3 | 7.46 | -20.81% |
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